Understanding Global Macroeconomics

Understand the impact of macroeconomic developments on your organization

Program flyer
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Next available date: 18 December


Managers, especially those working in the finance sector, are bombarded by macroeconomics and financial news from around the world. Since almost all decisions in this increasingly interconnected world depend on both macro and foreign developments, it is important for managers to understand how to integrate this information into a coherent framework.

In the Understanding Global Macroeconomics program the participants will be introduced to various aspects of macroeconomics and will get acquainted with the main concepts and policy debates: from economic growth to monetary policy and from inequality to debt sustainability; from IS/LM model to exchange rate regimes and from optimal currency areas to Rodrik’s Trilemma. We will look into theoretical foundations of the macro economy: aggregate demand, aggregate supply, fiscal policy, as well as monetary policy. The international economy, exchange rates, trade policy and optimal currency areas will be equally examined. During day 3 the different insights and methodologies of the previous two days will be applied to a real-life assignment. You will need to apply the various insights, methodologies, as well as sources we have used in the first two days, and will practice presenting your recommendations in a clear and convincing manner.

How you will benefit

    • Be able to interpret high level articles about economics, the main national and international policy discussions
    • Construct logical relationships between all major macroeconomic variables and entities: technology, productivity, economic growth, demographics, interest rates, income distribution, exchange rates, domestic politics, international institutions
    • Engage in topical policy debates
    • Tie business decisions to macroeconomic policy debates
    • Apply macroeconomic insights and sources into practical recommendations


Program length
3 days

Day 1 09:00 – 17:00
Day 2 09:00 – 17:00
Day 3 09:00 – 17:00

Next step
We offer carefully crafted learning paths designed to help you dive deeper into various facets of finance. Take the next step in your professional learning path by choosing one or more of our specialized programs, for example:

Day 1

Economic growth

  • The role of technology
  • Demography: past, present and importance
  • Why nations fail
  • Institutions and their effect on growth
  • Branko Milanovic’ elephant graph

Equilibrium in the economy

  • The goods market
  • The financial market
  • The demand for money
  • The IS/LM model
  • The IS/LM model with open economy
  • The IS/LM model with open economy and exchange rates
  • Exercises, case studies and assignments

Day 2

Fiscal policy

  • Fiscal Multipliers – applied to IS/LM (with open economy and exchange rates)
  • Debt, deficit, interest rates, risk premia and debt sustainability
  • Exercises, case studies and assignments

Monetary policy

  • The history of money
  • The history of monetary policy
  • From money targeting to inflation targeting
  • From deflation to inflation to hyperinflation
  • From independent central bank to politicized central bank
  • Living in a low inflation world
  • Unconventional monetary policy
  • Exercises, case studies and assignments

Insights on central banking, growth, inflation, interest rates and exchange rates in current policy debates

  • Optimal currency areas: is the eurozone an optimal currency area?
    – Application to other regions
    – Policy discussion and case studies
  • Does growth come at the expense of climate?
  • Is economic growth desirable?
  • Secular stagnation and its implications for policy
  • Impossible trilemmas – Rodrik’s as well as others’

Day 3

  • Assignment in small groups: a current macroeconomic topic, a policy debate or a hot topic in current economic affairs. You will apply the different methodologies used in the previous two days, different macroeconomic sources as well as relevant articles or illustrations to develop your case.
  • How to present your findings in a concise and convincing manner. How do you convincingly make your recommendations?
  • Examples of assignments:
    – Discuss the pros and cons of a currency union in Latin America
    – Present the ways in which a country could boost its growth potential
    – Come up with a plan to restore competitiveness in a country in the short or medium term
    – Discuss the ways in which a natural disaster affects a country’s public finances and exchange rates
    – Create a policy proposal for addressing a budget deficit and discuss the political and societal implication
    – Discuss policy options for restoring trade imbalances in a certain country, including political and societal implications
    – Compare the economic performance of two countries over the past ten years and highlight the reasons behind the difference
  • Group presentations: findings/recommendations to the rest of the class as if it were an official policy briefing to a CEO, a minister or a public official
  • Wrap-up session to summarize your take-aways from this program

Program preparation

There is some preparatory work required for this program. Pre-readings consist of case materials, chapters of a book and/or a few articles. These materials will be made available on a password protected webpage a few weeks prior to the program.

To ensure maximum benefit from the program for participant and fellow-participants, we strongly advise to prepare prior to attending.

Read more
> Alumni tell us about AIF’s in-depth programs (Understanding Global Macroeconomics)

Understanding Global Macroeconomics
is applicable to any business professional, coming from a broad range of disciplines in finance, corporate and strategic planning, advisory work, and financial regulatory bodies.

Is this program not the right fit for you?
We offer other programs which you might find more interesting or useful, such as:



Peter De Keyzer

Peter De Keyzer has extensive experience as (Chief) Economist at KBC Asset Management, ABN AMRO Bank, Petercam and BNP Paribas Fortis. He is a Guest Lecturer at the University of Antwerp and has held teaching positions at various other universities. Peter has over a decade of experience in giving presentations, moderating debates, and participating in…

Read more

  • 3 days
  • € 3950
  • Future of Finance, Strategy
  • English
  • 4.8 / 5

Available dates

Need help?

Find your program here or contact us directly for personal advice:
Call us at +31 20 246 7140 or email us at [email protected].

Program flyer

For a more detailed program description and information regarding faculty please download the program document.


CFA/VBA – PL  credit hours
This program is eligible for 18 PL credit hours as granted by CFA Society VBA Netherlands

Enroll now


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